Times Co. chief says sale of Globe, Red Sox stake unlikely

The chief executive of The New York Times Co., which owns The Boston Globe and boston.com, told a conference of Wall Street investors today that a sale of the Globe is unlikely given the lack of demand for daily newspapers, Bloomberg News reported.

Chief executive Janet Robinson added that the company has no plans to sell its regional newspapers or its stake in the Boston Red Sox, Bloomberg said.

Robinson made her remarks at a New York conference sponsored by Bear Stearns Cos., a New York-based financial services firm.

A large Times shareholder, Harbinger Capital Partners, has been pressing the company to sell noncore assets and invest more heavily in its Web businesses.
(By Chris Reidy, Globe staff)